Here is an article written by an Emerging Money Alumni, Craig Mellow who correctly points out how Bitcoin could be characterized as an Emerging Market. Those of us who have toiled in Emerging Markets over our careers see a lot of parallels with the whole Bitcoin movement.

With Emerging Market equities on a tear and outperforming the worlds developed market equity markets by a significant margin YTD (+1470bps to the SPX), they are suddenly target of the bears who argue this is just a bounce from oversold conditions.

Janet Yellen gave Dollar Bears ammunition to look to the charts. Dollar Bulls are in abundance but that may be the problem. Once again the USD is an overweight long that despite the obvious presence of the Fed can’t get out of its way.